Click here to access the Programs Community Solar Brochure. If youre ready to take advantage of this highly beneficial Illinois solar incentive, give us a call or contact us today. energy projects,emissions mitigation and management,GHG Emissions tradingand energy forecasting, development ofcarbon and renewable in the Illinois Shines program. This is where SRECs come in a utility can claim the electricity produced from your home solar system to help meet RPS requirements through the purchase of SRECs. The Illinois Power Agency (IPA) requires that procurement bids meet a minimum of 1MW of installed capacity. Enter your zip code to see solar quotes near you. It helps pay off your system more quickly and maximizes your long-term energy savings. That system value is calculated using the cost of your panels, batteries and inverters, plus installation costs. Community Solar Subscriber: A person who (i) takes delivery service from an electric utility, municipal utility, or rural electric cooperative, and (ii) has a subscription of no less than 200 watts to a community renewable generation project that is located in the utilitys service area. Her work on solar policy has been published in Canada's National Observer. Currently, the full retail rate for net energy metering in Illinois means the program will help reduce your panel payback period, maximize your long-term savings and help reduce your monthly electricity bills for the entire time your system produces electricity. SRECs are sold separately from the actual electricity they produce, which means owners can use the electricity from their solar array to directly lower their home or business electric bill and sell the SRECs that get created from that energy to the buyer. Lastly, net energy metering doesnt cost you anything to apply for, and it takes virtually no time investment either. Dont forget about the 30% Solar Federal Tax Credit that is available for solar owners as well. Contact us at. In addition to the 30 percent federal solar tax credit (aka investment tax credit or ITC) for solar system owners, Illinois residents can receive additional financial benefits through the states solar renewable energy credits (SREC) market. Learn more about the Illinois Solar Renewable Energy Credits Program. Watch this helpful video on RECs from the Center for Resources Solutions for further explanation. Take Action to Restore Illinois SREC Funding in Springfield Illinois Power Agency Energy Workforce Equity Portal The portal is an online source designed to help connect clean energy companies with Equity Eligible Persons looking to work in the clean energy sector in Illinois. Solar farms: what are they and how do they work? With these incentives in the works, its a great time to start evaluating your solar options. The SREC is sold separately from the electricity and represents the "solar" aspect of the electricity that was produced. If you are not a robot then please try again. Additionally, SRECs help bring a cleaner and diversified electrical power system to the state of Illinois. Solar Surge Expected as SREC Incentive is Back! New - Central Illinois 2023 Illinois Shines. The Initial Plan was approved in 2018 and a Revised Plan was approved in June 2021. Program Administrator: The IPAs subcontractor responsible for running day to day operations of the Adjustable Block Program. Illinois has an SREC program called the Adjustable Block Program, orIllinois Shines. For commercial customers, this is paid out over 5 years, and the REC value varies based on the size of the solar system. A system must be energized within 12 months (18 months for community solar projects) after this contract is approved. Agency: The Illinois Power Agency who developed and manages the Illinois Shines program through its subcontractor, Energy Solutions. The best states for a home solar energy system arent always the sunniest; those who benefit the most from installing a solar photovoltaic (PV) system for their home spend a lot of money on electricity and live in a state with good solar programs and incentives. Visit energyequity.illinois.gov to learn more. Interconnection Agreement: An agreement with the utility to interconnect the photovoltaic community solar or distributed generation system to the utilitys distribution system. Is Illinois reducing incentives for rooftop solar in the next 24 months? Illinois SREC incentives are managed under the Adjustable Block Program. Having trouble deciding? The questions below will affect whether you save money. Dont be. Its possible that, as the Prairie State approaches or surpasses its RPS goal, the net energy metering credit rate will drop or go away entirely. REC Procurements The IPA is purchasing SRECs under a 15-year contract. Community Solar: A solar project which (1) is interconnected to an electric utility, a municipal utility, or a rural electric cooperative, (2) allows subscribers to pay for shares or some other interest in the project, receiving bill credits in exchange; and (3) does not exceed 2,000 kW AC in size. Community Solar are typically large systems from a minimum size of 500 kW up to 2 MW (AC) that feed into the grid and generating power for subscribers. This field is for validation purposes and should be left unchanged. With the new SREC program, its a bit different the current SREC program lasts for a longer duration, and the price you receive for each SREC is fixed and dependent on your utility company, system size, and how soon you go solar. Illinois Shines SREC Program Gets New Funds for 2022 - Zenernet Block eligibility depends on a few factors: There are currently two groups associated with the ABP program Group A and Group B. On July 1, 2022, Energy Solutions became the new Program Administrator for Illinois Shines. Her work on solar policy has been published in the Canadian National Observer. The Illinois Power Agency determines the cost of the block price value. (1 REC = 1,000 As per the current law, credits carry over month to month until the end of the billing year, whereupon they expire. Lets assume this is your solar panel system and it generates six SRECs a year. Leigh Matthews, BA Hons, H.Dip. Participating in Illinois Shines means you play an important role in helping the State meet its renewable energy goals. The incentive is called a Solar Renewable Energy Credit (SREC), and its administered by the Illinois Shines Program. As such, you stand to make the most from SRECs in Illinois by going solar now instead of waiting. Well break down the initial steps below. payments will be made (to clients)pursuant to the rules of the If you answer yes, the software will automatically direct you to fill in the required information. Small Distributed Generation (Small DG): A distributed generation system less than or equal to 10 kW in size. Approved Vendor Info - Illinois Shines Illinois SRECs help those solar system owners recoup their investment. Solar Ambassadors About - Illinois Shines Register for free to start comparing quotes. Credits dont roll over indefinitely though, and any surplus expires at the annual billing date. If your bill is based on fixed prices for energy, your credits will simply be measured in kWh. Phase I of the portal was launched on January 31, 2023. Although this is around 10% lower than the national average of $23,940, its still a massive price tag to convert to renewable energy and one that many Illinois property owners cannot afford. The Agency reserves the right to add additional categories of market activities as needed. Utilities must offer retail rate net metering in Illinois, with the exception of cooperatives or municipalities. Please contact our Customer Care Center if you have questions. For the latest info see our blog post. Unfortunately, the program ran out of funding in late 2020.The availability of SREC funding was divided between "Group A," which is largely run by Ameren downstate Learn More about the IPA's implementation activities under CEJA. Add in net metering available from public utilities and a state property tax exemption and youre onto a winner with solar in the state. Before joining EcoWatch, Karsten worked in the solar energy sector, studying energy policy, climate tech and environmental education. Learn more about the technology of photovoltaics from the US Department of Energy here: Consulting with an Approved Vendor is the best way to figure out if your home (either your roof or your property for ground mounted systems) would be a good fit for a solar system. In our opinion, the federal credit is the best and most valuable incentive available in Illinois. The ABP features capacity-based blocks set at predetermined prices for 15-year REC contracts. Shouldnt solar be the same? Participants in the Solar for All program can expect no upfront costs to install solar, no ongoing costs (i.e., free maintenance), and fees that wont exceed 50% of the value of energy generated by the system. Find the best price from solar installers in Illinois. Learn more about what a REC is here: https://vimeo.com/113250210. Recent Posts. SREC Incentive Overview and Status as of March 31, 2021The solar renewable energy credit (or "SREC") has been an exceptional Illinois solar incentive available through the Illinois Shines program. Our experts will be happy to discuss this exciting incentive and make sure you understand all the rewarding benefits Illinois SRECs can potentially bring to your project. What new incentives are there in Illinois following the passing of the Inflation Reduction Act? Illinois Solar Legislation Thats because the summer months are usually the highest production months for home solar. REC prices can be found on page 180 of theFinal 2022 Long-Term Renewable Resources Procurement Plan released in August 2022. www.carbonsolutionsgroup.comToll free: (866) 499-1456Email: contact@carbonsolutionsgroup.com, SPECIALTYEnvironmental asset valuation, The IPA website is regularly updated with new information about the ABP. Program Resources - Illinois Shines Program Resources On September 15, 2021 Governor Pritzker signed the Climate and Equitable Jobs Act ( Public Act 102-0662 ). If that does happen, and the state doesnt set a new RPS goal, the likelihood is that net energy metering will either no longer be available or will drop to a less beneficial avoided-cost rate. For homeowners interested in solar at home but unsure about the upfront cost, check out Illinoiss Solar for All program. An SREC represents the environmental benefits of producing one megawatt-hour of electricity using solar power. State Solar Renewable Energy Certificate Markets | US EPA Events How do I go about finding someone to install solar on my roof/property? Visit energyequity.illinois.gov to learn more. This technically wont cost you anything since you can take the taxes out of the lump sum payment you get. Policy Blog Solar Renewable Energy Credit (SREC) Residential: REC's are a state incentive, whose value is equal to the solar energy you produce over 15 years times the price set by the Illinois Power Agency for REC's. ComEd, one of ILs largest utility companies, provides rebates for commercial and industrial (C&I) customers to help decrease the out-of-pocket costs of installing solar. The new guidelines are as follows: Claiming the federal tax credit in Illinois couldnt be much easier. With the enactment of the Public Act 102-0662, the Illinois Power Agency is tasked with numerous crucial implementation activities. The rate will drop in 2033, but solar customers were given an additional decade to take advantage of the credit. Summit Solar - Illinois Homeowners sell these SRECs through a market set up by the Illinois Power Agency (IPA). If you buy electricity from your utility (e.g., basic service or hourly pricing), you must contact the utility to enroll in net metering. You can follow the steps below to ensure you get access to this outstanding benefit program. Under the LTRRPP, the state will hold procurements for utility-scale wind and solar and will secure distributed generation and community solar REC contracts through the LTRRPP Adjustable Block Program (ABP). The best way to compare your solar options and save money at the same time is by registering on the EnergySage Marketplace. This program is undergoing some changes in the summer of 2022, but the basic premise remains the same: home solar producers can earn 1 SREC for every MWh of electricity produced by their systems and can sell these to earn additional income. Renew Your Membership You wouldnt buy a car without comparing a few options first. Whats The Near-Term Outlook For More Incentives In Illinois? Education Webinars, Illinois Solar Energy Association c/o Shamrock Electric | 1281 E. Brummel Ave Elk Grove Village, IL 60007 | contactisea@illinoissolar.org, Copyright 2009 - 2018 Illinois Solar Energy Association, FAQs - Utility, Community, and Large-Scale Solar, Consumer Protection Business Code of Conduct, Future Energy Jobs Act Workforce Development Programs, COVID-19 Resources for Solar Professionals. On Sept. 15, 2021, the Climate and Equitable Jobs Act (Public Act 102-0662) was signed into law by Illinois Governor J.B. Pritzker. For reference, large DG systems are usually hosted on larger buildings or roofs, not residential properties.
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